In total, Indian refiners want to lock in about 500,000 barrels per day of Russian crude supplies, said sources who could not be identified as negotiations are private.
Military ships in the region have been attempting to thwart missile strikes on merchant vessels over the past few weeks, but the Houthis have continued their attacks.
The agency expects to have enough data from an investigation launched after the accident to make initial recommendations as soon as late February, the FAA said February 5.
While the overall picture is mixed, some Chinese-linked vessels have to pay as little as 0.35% of their hull and machinery value to obtain insurance for transit.
The drop is the latest headache for the North African nation that was already wrestling with its worst economic crisis in decades before the Israel-Hamas war erupted in October.
A selection process will be established to determine which projects — including extraction, processing and recycling materials — are eligible, the people said, speaking on the condition of anonymity.
Seven coalition members have pledged supply curbs totaling about 900,000 barrels a day this quarter, in tandem with a 1 million-barrel reduction by group leader Saudi Arabia.
